The parent company of Kathmandu and Rip Curl has added a commercial lawyer to its board of directors as part of a renewal process announced in May.
John Strowger will join KMD Brands as a non-executive director, effective from July 1, 2026. Strowger has held a long career as commercial lawyer in New Zealand, specialising in corporate and securities law, as well as mergers and acquisitions.
He was a partner at Chapman Tripp for nearly three decades (1993 to 2022) and continues with the firm as a consultant. Strowger also brings governance experience, currently serving as chair of Skellerup Holdings Limited and as a director of Sanford Limited, together with a range of roles across private companies and advisory boards.
With the appointment of Strowger, David Kirk will resign as a director of the company on July 1.
KMD Brands chair Philip Bowman thanked Kirk for his leadership, including as chairman over the last 12 years, and welcomed Strowger to the team.
Bowman said Strowger brings deep governance experience, sound commercial judgement and a strong understanding of listed company responsibilities. He said this will further strengthen the capability of the board.
“He also offers valuable insight into New Zealand’s capital markets and investor landscape,” Bowman said.
“John’s combination of legal, governance and advisory experience complements the existing skills, experience and diversity of our directors, supporting the generation of value for shareholders through a combination of the recently announced business review and management’s focus on disciplined execution of our Next Level strategy.”
Strowger said his goal with KMD is to drive the group’s future direction. His appointment comes amid recent turbulence, with KMD fielding unsolicited offers to break up its retail brands. This comes after recent pushes to turn around group trading performance, with Kathmandu proving to be the stronger driver while Rip Curl still faces headwinds on the bottom line.
KMD then issued an equity raise at a hefty discount, raising NZ$65.3 million and adding millions of more shares to its portfolio. Alongside the addition of Strowger to the board, the retail group confirmed it will consolidate its shares today at a 1 for 25 ratio.
As a result, the number of shares on issue in KMD will be reduced from 1,799,415,022 to approximately 71,976,601 shares.
“With its iconic brands and Next Level strategy in place, I look forward to working with the board and management to unlock shareholder value,” Strowger said.
Strowger will hold office until the annual shareholders’ meeting of the company, at which time he will resign and then stand for election.